Singapore's Sea sees single-day market value surge of US$9bil

While growth is decelerating, the pathway to profitability for Sea’s eCommerce arm Shopee is “becoming clear,” says a Morgan Stanley analyst.

SINGAPORE: Sea Ltd shares rose 36% in its biggest-ever single-day jump after the gaming and eCommerce company posted a smaller-than-expected quarterly loss, helped by drastic cost cuts.

Sea has cut about 7,000 jobs, or roughly 10% of its workforce, in the past six months, according to a source.